Sam Allardyce has reportedly turned down an offer to take the managerial vacancy at Wolverhampton Wanderers.
The 62-year-old is currently out of work after being sacked as manager of England by the Football Association in September for being caught up in a media sting.
Championship side Wolves dismissed head coach Walter Zenga earlier this week and Allardyce, who supported the club as a child, was immediately installed as one of the favourites to take over.
According to The Times, Wolves "made overtures" to the FA to find out if Allardyce would be available to take the job during an investigation into his conduct as England boss.
Allardyce, however, is said to be "flattered" by the interest but "is not yet ready to return to the game and is content to keep his options open".